Ripple has officially announced the launch of its RLUSD stablecoin, set to go live soon. Monica Long, President of Ripple, took to her social media handle on Monday and said that this new stablecoin is an important step for both the XRP Ledger and Ripple, which handles over $70 billion in payments. RLUSD combines Ripple’s 10 plus years of experience with strong compliance standards and support from a trusted advisory board.
The company had received final approval for RLUSD from the New York State Department of Financial Services (NYDFS), under the regulator’s limited-purpose trust company charter, as of last week. RLUSD will launch on platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso, with more exchanges like Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp joining soon.
When Will RLUSD Launch?
RLUSD will be available on global exchanges starting today, December 17, 2024. While the launch date is confirmed, the exact time has not been disclosed. While social media posts on X suggest the launch will happen at 8:00 AM EST, allowing users to get in before the typical 9-5 workday begins, this information is purely speculative and has not been officially confirmed. As such, it should be treated with caution until Ripple provides official details.
XRP Price Jumps:
The market reacted positively to the news, with XRP seeing a boost in value. Although some traders are taking profits, the excitement is building, and XRP’s price could continue to rise as more trust in Ripple grows. XRP has been experiencing a strong price surge due to a major announcement from Ripple.
While Bitcoin and other cryptocurrencies like BNB and ETH are performing well, XRP’s movement is directly tied to Ripple’s stablecoin news. As Ripple gains more trust, XRP’s value is expected to climb, benefiting from the positive sentiment in the crypto market.
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